❓ Hon Steve Martin asked the Minister for Housing about Keystart loan applications, approvals, and rejections for 2023, broken down by loan type. The Minister provided detailed figures on applications, approvals, and reasons for rejection, and incorporated a table into Hansard with a breakdown of approved loans by type.
AnsweredQoN 43Legislative Council
QuestionView source ↗
KEYSTART
43. Hon STEVE MARTIN to the minister representing the
Minister for Housing:
I refer to Keystart.
(1) For the calendar year 2023 how
many Keystart loans were —
(a) applied for;
(b) approved; and
(c) rejected?
(2) For the calendar year 2023, how
many Keystart loans were approved for —
(a) low-deposit home loans;
(b) shared ownership home loans;
(c) access home loans;
(d) Aboriginal home loans;
(e) rural home loans; and
(f) urban connect home loans?
43. Hon STEVE MARTIN to the minister representing the
Minister for Housing:
I refer to Keystart.
(1) For the calendar year 2023 how
many Keystart loans were —
(a) applied for;
(b) approved; and
(c) rejected?
(2) For the calendar year 2023, how
many Keystart loans were approved for —
(a) low-deposit home loans;
(b) shared ownership home loans;
(c) access home loans;
(d) Aboriginal home loans;
(e) rural home loans; and
(f) urban connect home loans?
AnswerView source ↗
I thank the honourable member for
some notice of this question. The following response has been provided by the
Minister for Housing.
(1) Keystart is
incorporated under the Corporations Act and is regulated by the Australian
Securities and Investments Commission. Keystart approves loans in line with its
obligations to ASIC and in accordance with responsible lending practices. For
the calendar year 2023, Keystart has provided the following.
(a) There were 770 loans applied for.
(b) Of those, 534
were approved. This includes 472 loans that were committed to, four that were formally approved, three loans approved in the year
prior that moved to formal approval and 55 pre�approved loans.
(c) Of the 770 loan applications, 101 applications
were declined by Keystart in line with its responsible lending
obligations. There were 137 loan applications withdrawn by customers, and one
loan application was deferred.
(2) As the data
for the answer to question (2) is in tabular form, I seek leave to have the
response incorporated into Hansard .
[Leave granted for the following
material to be incorporated.]
Low
Deposit Home Loans
447
Shared
Ownership Home Loans
34
Access
Home Loans
15
Aboriginal
Home Loans
31
Rural
Home Loans
0
Urban
Connect Home Loans
7
some notice of this question. The following response has been provided by the
Minister for Housing.
(1) Keystart is
incorporated under the Corporations Act and is regulated by the Australian
Securities and Investments Commission. Keystart approves loans in line with its
obligations to ASIC and in accordance with responsible lending practices. For
the calendar year 2023, Keystart has provided the following.
(a) There were 770 loans applied for.
(b) Of those, 534
were approved. This includes 472 loans that were committed to, four that were formally approved, three loans approved in the year
prior that moved to formal approval and 55 pre�approved loans.
(c) Of the 770 loan applications, 101 applications
were declined by Keystart in line with its responsible lending
obligations. There were 137 loan applications withdrawn by customers, and one
loan application was deferred.
(2) As the data
for the answer to question (2) is in tabular form, I seek leave to have the
response incorporated into Hansard .
[Leave granted for the following
material to be incorporated.]
Low
Deposit Home Loans
447
Shared
Ownership Home Loans
34
Access
Home Loans
15
Aboriginal
Home Loans
31
Rural
Home Loans
0
Urban
Connect Home Loans
7
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